Trexquant Investment LP Buys Shares of 8,782 Gartner, Inc. (NYSE:IT)

Trexquant Investment LP acquired a new stake in Gartner, Inc. (NYSE:IT - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 8,782 shares of the information technology services provider's stock, valued at approximately $4,255,000.

Several other hedge funds and other institutional investors have also made changes to their positions in IT. Kestra Investment Management LLC acquired a new position in Gartner during the fourth quarter worth $29,000. SBI Securities Co. Ltd. acquired a new stake in shares of Gartner in the fourth quarter valued at approximately $49,000. Promus Capital LLC bought a new stake in Gartner in the 4th quarter valued at $57,000. Global Retirement Partners LLC increased its holdings in shares of Gartner by 14.0% in the fourth quarter. Global Retirement Partners LLC now owns 276 shares of the information technology services provider's stock valued at $134,000 after purchasing an additional 34 shares during the last quarter. Finally, Hanson & Doremus Investment Management acquired a new position in Gartner in the 4th quarter valued at about $145,000. 91.51% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Gartner news, SVP John J. Rinello sold 90 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $530.51, for a total transaction of $47,745.90. Following the completion of the transaction, the senior vice president now owns 3,259 shares in the company, valued at $1,728,932.09. This trade represents a 2.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Eileen Serra sold 1,200 shares of Gartner stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $489.77, for a total value of $587,724.00. Following the completion of the transaction, the director now owns 1,627 shares of the company's stock, valued at approximately $796,855.79. This trade represents a 42.45 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.60% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

A number of research analysts have commented on IT shares. Wells Fargo & Company decreased their price objective on Gartner from $488.00 to $401.00 and set an "underweight" rating on the stock in a report on Wednesday. Morgan Stanley reduced their target price on Gartner from $564.00 to $555.00 and set an "equal weight" rating on the stock in a report on Thursday, January 16th. Robert W. Baird dropped their target price on shares of Gartner from $605.00 to $557.00 and set an "outperform" rating for the company in a report on Friday, March 21st. The Goldman Sachs Group reissued a "buy" rating on shares of Gartner in a report on Tuesday, February 4th. Finally, StockNews.com lowered shares of Gartner from a "buy" rating to a "hold" rating in a report on Friday, March 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Gartner presently has an average rating of "Hold" and an average target price of $518.00.

Gartner Stock Down 5.0 %

Shares of IT stock traded down $20.42 during trading hours on Thursday, hitting $385.71. 153,941 shares of the company's stock traded hands, compared to its average volume of 445,860. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The stock has a market cap of $29.63 billion, a price-to-earnings ratio of 24.08, a PEG ratio of 3.30 and a beta of 1.26. The stock's fifty day simple moving average is $467.43 and its two-hundred day simple moving average is $497.94. Gartner, Inc. has a 12-month low of $366.05 and a 12-month high of $584.01.

Gartner (NYSE:IT - Get Free Report) last issued its earnings results on Tuesday, February 4th. The information technology services provider reported $5.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $2.23. The company had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.69 billion. Gartner had a net margin of 20.00% and a return on equity of 116.56%. The firm's quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the company posted $3.04 earnings per share. On average, analysts expect that Gartner, Inc. will post 12.5 EPS for the current year.

About Gartner

Gartner, Inc operates as a research and advisory company in the United States, Canada, Europe, the Middle East, Africa, and internationally. It operates through three segments: Research, Conferences, and Consulting. The Research segment delivers its research primarily through a subscription service that include on-demand access to published research content, data and benchmarks, and direct access to a network of research experts.